Ivanhoe Mines (TSE:IVN) Given New C$24.00 Price Target at Raymond James

Ivanhoe Mines (TSE:IVN) had its price target cut by Raymond James from C$25.00 to C$24.00 in a research note released on Thursday,BayStreet.CA reports. They currently have an outperform rating on the stock.

A number of other research analysts also recently issued reports on IVN. Scotiabank boosted their price objective on shares of Ivanhoe Mines from C$21.00 to C$22.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. TD Securities reduced their price target on shares of Ivanhoe Mines from C$25.00 to C$24.00 and set a “buy” rating on the stock in a research report on Thursday. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of C$24.00.

Ivanhoe Mines Price Performance

Shares of IVN stock opened at C$17.19 on Thursday. The company has a debt-to-equity ratio of 4.24, a quick ratio of 20.86 and a current ratio of 1.17. Ivanhoe Mines has a fifty-two week low of C$12.94 and a fifty-two week high of C$21.32. The firm has a market cap of C$23.21 billion, a P/E ratio of 107.44 and a beta of 1.94. The business’s 50 day moving average price is C$18.26 and its 200-day moving average price is C$18.18.

Insider Buying and Selling at Ivanhoe Mines

In other news, Director Jinghe Chen sold 60,288 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of C$19.00, for a total transaction of C$1,145,472.00. Also, Director Martie Cloete sold 2,800 shares of Ivanhoe Mines stock in a transaction dated Friday, November 8th. The stock was sold at an average price of C$18.56, for a total value of C$51,968.00. Over the last quarter, insiders sold 68,088 shares of company stock valued at $1,292,379. Corporate insiders own 44.96% of the company’s stock.

Ivanhoe Mines Company Profile

Ivanhoe Mines Ltd. engages in the mining, development, and exploration of minerals and precious metals primarily in Africa. It explores for platinum, palladium, nickel, copper, gold, rhodium, zinc, silver, germanium, and lead deposits. The company's projects include the Platreef project located in the Northern Limb of South Africa's Bushveld Complex; the Kipushi project located in Haut-Katanga Province, Democratic Republic of Congo; and the Kamoa-Kakula project located within the Central African Copperbelt.